Swiss National Bank Sells 3,300 Shares of Ingersoll Rand Inc. (NYSE:IR)

Key Points

• Swiss National Bank reduced its stake in Ingersoll Rand by 0.3%, now owning 1,136,580 shares valued at approximately $90.96 million.
• Several **institutional investors** increased their positions in Ingersoll Rand, including Teacher Retirement System of Texas, which grew its stake by 1,460%.
• Ingersoll Rand announced a $1.00 billion stock buyback plan, indicating confidence from the board regarding the company's valuation.

Swiss National Bank reduced its holdings in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,136,580 shares of the industrial products company's stock after selling 3,300 shares during the period. Swiss National Bank owned about 0.28% of Ingersoll Rand worth $90,960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IR. Compass Wealth Management LLC lifted its position in Ingersoll Rand by 62.8% during the first quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 137 shares during the last quarter. Global Wealth Strategies & Associates boosted its holdings in shares of Ingersoll Rand by 325.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after buying an additional 286 shares in the last quarter. Golden State Wealth Management LLC grew its position in Ingersoll Rand by 190.9% during the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock worth $38,000 after purchasing an additional 313 shares during the last quarter. Farmers & Merchants Investments Inc. grew its position in Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock worth $39,000 after purchasing an additional 172 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 285 shares during the period. 95.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Stifel Nicolaus set a $78.00 target price on shares of Ingersoll Rand and gave the stock a "hold" rating in a report on Monday, August 4th. Barclays dropped their target price on shares of Ingersoll Rand from $92.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Melius Research set a $93.00 target price on shares of Ingersoll Rand in a report on Monday, July 14th. Finally, Melius lowered shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 price objective for the company. in a report on Monday, July 14th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $98.75.

Ingersoll Rand Trading Up 2.6%

Shares of NYSE IR traded up $1.95 on Tuesday, reaching $78.40. 2,759,874 shares of the company traded hands, compared to its average volume of 3,514,269. Ingersoll Rand Inc. has a fifty-two week low of $65.61 and a fifty-two week high of $106.03. The company has a 50 day moving average of $83.55 and a 200 day moving average of $82.06. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $31.16 billion, a PE ratio of 61.25, a P/E/G ratio of 4.35 and a beta of 1.41.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, hitting analysts' consensus estimates of $0.80. The firm had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. Ingersoll Rand had a return on equity of 12.12% and a net margin of 7.10%. Ingersoll Rand's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. On average, equities research analysts forecast that Ingersoll Rand Inc. will post 3.32 earnings per share for the current fiscal year.

Ingersoll Rand Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.1%. Ingersoll Rand's dividend payout ratio (DPR) is currently 6.25%.

Ingersoll Rand announced that its board has approved a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

Insider Activity

In related news, insider Elizabeth Meloy Hepding sold 3,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the transaction, the insider directly owned 10,986 shares of the company's stock, valued at approximately $920,407.08. This trade represents a 24.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicente Reynal sold 38,657 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $83.03, for a total value of $3,209,690.71. Following the sale, the insider directly owned 193,186 shares in the company, valued at $16,040,233.58. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.68% of the company's stock.

Ingersoll Rand Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.